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Bonds 205: TIGRs, CATS, and LIONs

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1.
All of the following were benefits of TIGRs, CATS, and LIONs except _______.
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Ownership of a Treasury security. Ownership of a Treasury security was not a feature of the felines, which were securities issued by private firms.
2.
Compared to its face value, the issuing price of a zero coupon bond is _______.
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Much lower. Zero coupons are issued at deep discounts from their face values.
3.
CATS were securities issued by the US Treasury and sold by brokerage firms.
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False. CATS were securities issued by brokerage firms based on Treasury bonds that they purchased and placed in escrow.
4.
TIGRs, CATS, and LIONs are acronyms _______.
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Created by brokerage firms. TIGRs, CATS, and LIONs are acronyms created by brokerage firms for securities based on Treasury bonds.
5.
The units that Treasury-backed zeros are based on represent _______.
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Interest. Interest payments were divided into units as the basis of Treasury-backed zeros.